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FORM 4
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U.S. SECURITIES AND EXCHANGE COMMISSION --------------------------------
Washington, DC 20549 OMB APPROVAL
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STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB Number: 3235-0287
[ ] Check box if no Expires: December 31, 2001
longer subject to Filed pursuant to Section 16(a) of the Securities Estimated average burden hours
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the per responses..............0.5
or Form 5 obligations Public Utility Holding Company Act of 1935 --------------------------------
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
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| 1. Name and Address of Reporting Person* | 2. Issuer Name and Ticker or Trading Symbol |6. Relationship of Reporting Person(s)|
| | | to Issuer (Check all applicable) |
| Grant, Mark J. | U.S. RealTel, Inc. (USRT) | |
|--------------------------------------------|----------------------------------------------| [X] Director [ ] 10% Owner |
| (Last) (First) (Middle) | 3. IRS Identification | 4. Statement For | [ ] Officer (give [ ] Other (Specify|
| | Number of Reporting | Month/Year | title below) |
| | Person, if an Entity | | below) |
| 505 Isle of Capri | (Voluntary) | March 2002 | |
|--------------------------------------------| |--------------------|--------------------------------------|
| (Street) | | 5. If Amendment, |7. Individual or Joint/Group Filing |
| | | Date of Original| (Check applicable line) |
| | | (Month/Year) | [X] Form Filed by One |
| Ft. Lauderdale Florida 33301 | | | Reporting Person |
|--------------------------------------------|----------------------------------------------| [ ] Form Filed by More Than |
| (City) (State) (Zip) | | One Reporting Person |
| | | |
|----------------------------------------------------------------------------------------------------------------------------------|
| TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED |
|----------------------------------------------------------------------------------------------------------------------------------|
|1. Title of Security |2. Transaction |3. Transac- |4. Securities Acquired (A) | 5. Amount of Se- |6. Owner- |7. Nature |
| (Instr. 3) | Date | tion Code | or Disposed of (D) | curities Benefi-| ship | of In- |
| | (Month/Day/ | (Instr. 8) | | cially Owned at | Form: | direct |
| | Year) | | | End of Month | Direct | Benefi-|
| | | | (Instr. 3, 4 and 5) | (Instr. 3 and 4)| (D) or | cial |
| | |--------------|---------------------------| | Indirect | Owner- |
| | | Code | V | Amount | (A) or| Price| | (I) | ship |
| | | | | | (D) | | | (Instr. 4)| (Instr.|
| | | | | | | | | | 4) |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| Common Stock | 3/4/02 | G | V | 9,000 | D | | 56,242 | D | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
|---------------------|-------------------|-------|------|------------|-------|------|--------------------|-------------|----------|
| | | | | | | | | | |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE NOT
REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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|1. Title of Derivative | 2. Conver- |3. Trans- |4. Trans- |5. Number of | 6. Date Exer- |7. Title and Amount |8. Price |
| Security | sion or | action | action | Derivative | cisable and | of Underlying | of |
| (Instr. 3) | Exercise | Date | Code | Securities | Expiration | Securities | Deriv- |
| | Price of | (Month/| (Instr.| Acquired (A) | Date | (Instr. 3 and 4) | ative |
| | Deriv- | Day/ | 8) | or Disposed | (Month/Day/ | | Secur- |
| | ative | Year) | | of (D) | Year) | | ity |
| | Security | | | (Instr. 3, | | | (Instr. 5)|
| | | | | 4, and 5) |-----------------|--------------------| |
| | | | | | Date |Expira- | | Amount or| |
| | | |----------|----------------| Exer- |tion | Title | Number of| |
| | | | Code| V | (A) | (D) | cisable|Date | | Shares | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
|-----------------------|--------------|----------|-----|----|-------|--------|--------|--------|--------|-----------|-------------|
| | | | | | | | | | | | |
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| 9. Number of | 10. Ownership | 11. Nature of |
| Derivative | Form of | Indirect |
| Securities | Derivative | Beneficial |
| Beneficially | Security: | Ownership |
| Owned at End | Direct (D) | (Instr. 4) |
| of Month | or Indirect (I) | |
| (Instr. 4) | (Instr. 4) | |
| | | |
|---------------------|-------------------------------|----------------------|
| | | |
|---------------------|-------------------------------|----------------------|
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|---------------------|-------------------------------|----------------------|
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|---------------------|-------------------------------|----------------------|
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|---------------------|-------------------------------|----------------------|
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|---------------------|-------------------------------|----------------------|
| | | |
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Explanation of Responses:
** Intentional misstatements or omissions of facts constitute Federal Criminal /s/ Mark J. Grant 4/9/2002
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ---------------------------------- ----------
**Signature of Reporting Person Date
Note. File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.
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